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Does the Auditor Have a Direct Influence on the Financial Statement Quality?

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  • Tatiana Dolgikh

Abstract

In the modern process of globalization, IFRS standards are widely used in the financial world, Russian Federation is one of these examples. The application of IFRS in Russian Federation first began in the early 90-ies of the twentieth century. During IFRS adoption many companies were involved in this process. Nowadays, a big part of all Russian companies obligatory use IFRS standards to prepare their statements. The purpose of this article is to analyse current practices of financial reporting procedures, its compliance with the rules of the IAS 1 as well as identifying the dependencies between the auditor selection and the quality of reporting. For this paper, a special Questionnaire was developed and for each selected organization a special profile, which included analysis of all financial statements for the period of the 2015 year was created. The study shows that the financial reports quality of the largest Russian companies on a high level. However, many companies face the problem of RAS and IFRS differences during reports transformation that directly influences its quality. During the study process it becomes clear, that auditor has a direct impact on the financial statements quality.

Suggested Citation

  • Tatiana Dolgikh, 2017. "Does the Auditor Have a Direct Influence on the Financial Statement Quality?," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2017(2), pages 73-90.
    • Handle: RePEc:prg:jnlefa:v:2017:y:2017:i:2:id:182:p:73-90
    DOI: 10.18267/j.efaj.182
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    References listed on IDEAS

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    1. Kim, Oksana, 2013. "Russian Accounting System: Value Relevance of Reported Information and the IFRS Adoption Perspective," The International Journal of Accounting, Elsevier, vol. 48(4), pages 525-547.
    2. Tatiana Dolgikh, 2017. "The IFRS Adoption by BRICS Countries: A Comparative Analysis," Springer Proceedings in Business and Economics, in: David Procházka (ed.), New Trends in Finance and Accounting, chapter 0, pages 373-383, Springer.
    3. Iwasaki, Ichiro & 岩﨑, 一郎, 2013. "What Determines Audit Independence and Expertise in Russia? Firm-Level Evidence," RRC Working Paper Series 27_v2, Russian Research Center, Institute of Economic Research, Hitotsubashi University.
    4. Alon, Anna & Dwyer, Peggy D., 2014. "Early Adoption of IFRS as a Strategic Response to Transnational and Local Influences," The International Journal of Accounting, Elsevier, vol. 49(3), pages 348-370.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Reports; Quality; IFRS; Russian Companies;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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